ARTICLE
23 October 1996

Banks / New Charter Capital Requirements

P
PricewaterhouseCoopers

Contributor

PricewaterhouseCoopers
Russian Federation
Tax News Reporter - Week Ended 22 October 1996

The minimum charter capital for banks with less than 50% foreign participation is now 13.5 billion roubles, and, for non-bank credit organisations, 3.5 billion roubles. If the foreign participation exceeds 50%, the minimum requirement becomes 34 billion roubles, and no shareholder may be involved for less than 10 billion roubles.

Telegram of the Central Bank of 4 October 1996 No. 124-96

For further information contact Bauke van der Meer on tel: +7 503 232 5511 fax: +7 503 232 5522 or e-mail directly: Click Contact Link or enter a text search 'Coopers & Lybrand' and 'Business Monitor'

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